The update is rather small, and basically updates the software version from VS98010B to VS98011A, as well as the Kernel. We're not sure yet what the change log is, as the Verizon Support Site still says that VS98010B was to improve the font size for the app tray, with no mention of VS98011A as of yet.
The dev community says that the update might try to "close" the rooting processes that have been discovered over the past week and to prevent custom recoveries such as TWRP from being installed. So if rooting your LG G2 is important to you, or if you are already rooted, it's probably best to hold-off from installing the software update.
source: Droid-Life, XDA, and Verizon